NewsWhore
08-30-2007, 06:00 PM
As the Baninter fraud case first phase draws to a close, government prosecutors are calling for 20 years in jail and a fine of RD$2.5 million for former Banco Intercontinental (Baninter) president Ramon Baez Figueroa and bank advisor Luis Alvarez Renta, accused of being the principal figures responsible for the collapse of the Dominican Republic's largest bank in 2003. The bank collapse sent the economy into an inflationary spiral never lived before, costing taxpayers upwards of RD$74 billion.
Prosecutors also called for six-year prison terms and fines of RD$1 million and RD$1.5 million for bank executives Jesus Maria Troncoso Ferrua and Vivian Lubrano de Castillo, respectively.
Special prosecutor for banking fraud Francisco Garcia asked the court to declare bank vice president Marcos Baez Cocco guilty of the same charges of hiding operations and documents, altering documents, asset laundering and abuse of confidence in prejudice of Dominican society and the state, but did not call for a sanction as he would be tried separately according to a 15 September 2006 petition.
In the prosecutors' summing up of the case, Listin Diario, the oldest Dominican newspaper in circulation, was left out of the list of assets that would be confiscated by the state. El Caribe pointed today to the contradiction in the exclusion that comes "despite the fact that during the trial the prosecutors and experts in banking fraud referred to Listin Diario as one of the Baninter Group media that benefited from depositor money.
Prosecutors instructed the state to confiscate the assets and rights of Intercontinental de Medios, RNN (Channel 27), Radio Supra, Radio Cielo, Radio Mil, Circuito Comercial, Isla Vision (Channels 53 and 57), Aster Comunicaciones, Medcon and Telecentro.
In the same trial, the prosecutors called for the confiscation of the N919 registration Bell helicopter 206B, an Augusta 109C jet, the Reliance Watchman, S.A. company, Casa del Faro and Bahia Minitas homes, and Lexus and Hyundai vehicles.
Defense lawyer Vinicio Castillo Seman is quoted in today's Listin Diario: "All the garbage presented as accusations by the prosecutors will be pulverized by Ramon Baez Figueroa's defense that opens on Monday, 3 September, including the infamous charge of asset laundering that they are trying to pin on our client," he stated.
After the defense presents its statements, the judges will have approximately 20 days to issue a verdict. Then the process is expected to move on to the appeals period, and then it could be taken to the Supreme Court.
http://dr1.com/news/2007/083007_Clausura2.pdf
http://dr1.com/news/2007/083007_Conclusiones.pdf
More... (http://www.dr1.com/index.html#10)
Prosecutors also called for six-year prison terms and fines of RD$1 million and RD$1.5 million for bank executives Jesus Maria Troncoso Ferrua and Vivian Lubrano de Castillo, respectively.
Special prosecutor for banking fraud Francisco Garcia asked the court to declare bank vice president Marcos Baez Cocco guilty of the same charges of hiding operations and documents, altering documents, asset laundering and abuse of confidence in prejudice of Dominican society and the state, but did not call for a sanction as he would be tried separately according to a 15 September 2006 petition.
In the prosecutors' summing up of the case, Listin Diario, the oldest Dominican newspaper in circulation, was left out of the list of assets that would be confiscated by the state. El Caribe pointed today to the contradiction in the exclusion that comes "despite the fact that during the trial the prosecutors and experts in banking fraud referred to Listin Diario as one of the Baninter Group media that benefited from depositor money.
Prosecutors instructed the state to confiscate the assets and rights of Intercontinental de Medios, RNN (Channel 27), Radio Supra, Radio Cielo, Radio Mil, Circuito Comercial, Isla Vision (Channels 53 and 57), Aster Comunicaciones, Medcon and Telecentro.
In the same trial, the prosecutors called for the confiscation of the N919 registration Bell helicopter 206B, an Augusta 109C jet, the Reliance Watchman, S.A. company, Casa del Faro and Bahia Minitas homes, and Lexus and Hyundai vehicles.
Defense lawyer Vinicio Castillo Seman is quoted in today's Listin Diario: "All the garbage presented as accusations by the prosecutors will be pulverized by Ramon Baez Figueroa's defense that opens on Monday, 3 September, including the infamous charge of asset laundering that they are trying to pin on our client," he stated.
After the defense presents its statements, the judges will have approximately 20 days to issue a verdict. Then the process is expected to move on to the appeals period, and then it could be taken to the Supreme Court.
http://dr1.com/news/2007/083007_Clausura2.pdf
http://dr1.com/news/2007/083007_Conclusiones.pdf
More... (http://www.dr1.com/index.html#10)